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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...The backlog of customer service issues has emerged months after the German lender promised to quickly fix the widespread disruption caused by a botched IT migration project....
...“We don’t disclose the historical financials, but obviously Stripe has been in build mode up to this point.”...
Consulting group elevates Belgian Christophe De Vusser to succeed Manny Maceda
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...The lender agreed to buy Discover Financial Services on Monday for $35bn. Capital One is looking to wrap up that deal later this year or early 2025....
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...Still, big financial services deals are going to bring scrutiny, and the likes of Senator Elizabeth Warren have already called for regulators to block the merger....
...They send it to us because we provide a service, we provide better prices, right? The marketplace has created this unbelievable ecosystem, and it will continue to do it in asset classes around....
...As well as chief executive Mark Newman, the company placed chief financial officer Jonathan Lock and controller Camela Wisel on leave....
...Two scoops to start, first: JPMorgan Chase spent more than a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank...
...The US bank and custody giant joins domestic rival State Street as a depositary and administration service provider for the Irish ETFs....
...Many passengers only fly once a year and thus may not understand how services once included in a traditional airfare now cost extra, or how to navigate an airline’s website to find more pricing information...
...When things turn down a little bit, it has the potential to get very aggressive, as the co-head tries to call in favours and discovers that there’s no gratitude in investment banking....
...According to data from Deutsche Börse-owned Institutional Shareholder Services, it would mark Apple’s largest US securities fraud class action settlement....
...Exclusive: Iran used two of the UK’s biggest banks to covertly move money around the world as part of a vast sanctions-evasion scheme backed by Tehran’s intelligence services....
...Use will usually fall below the purview of financial regulators. Purchases and transfers are largely untraceable....
...Of course, there is customer service and access. But even those face tests....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...This is something the UK regulator, the Financial Conduct Authority, is now looking at....
...The deal will bolster its Capital IQ Pro platform and allow for forward financial modelling....
...Corinthia told the Financial Times that it had offered Barings to manage some of its funds after these top executives had resigned....
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